i have funded 500$ , what amount should i aim for everyday?

[Piratetrader]

Again, this is why I mentioned a couple of traits about Bollinger Bands. There are many times when 5-8 consecutive candles hug the extreme line. Here's an example. Look at a strong trend on the hourly, then drop down to the 15-min and notice how many consecutive candles hug the line
The other thing to look for is even after the candle makes a break from the band, it an uptrend the upper band is probably pointing strongly to the upper extreme. That is probably indicating that after the break, a sideways motion will ensue before another break north.
If anyone tells you (This is not my opinion.) it is time to reverse direction just because the extreme band was hit, they do not know what they are talking about.
Let me also recommend Columbus' thread on Bollinger Bands. He is also very learned on BB's, and has a wealth of knowledge just on this subject.
If Babypips said exactly what you said about reversing when those levels are hit, then they do not know what they are talking about. I can flood your thread with examples of that.

The only confusing part you have is that you are in a hurry to trade. Traders 101 last for much longer than a few months. There is basic, conceptual knowledge you need to get a grasp on, and then build from there. The nature of your questions tells me a lot. That is also good you ask the questions, because all my comments are meant constructively.
In essence, you have a ways to go before thinking about trading live. The one thing I strong urge is observation and being objective in your observations-- not seeing in your observations what you want to see.
Another thing that could help is open a chart on a market you have no interest in trading, then tell me what you see. You will see occasional times when the candles will hug the upper or lower bands for long periods of time. You will see when 70 is hit on the RSI that many times price will continue to go up (or 30 and down).

yes sir i am strongly observing the charts from days but there are so stupid confusions that come randomly into my mind and distracts me! totell you the truth today i am learning about how does S and R work (it was written buy at support, sell at resistance)! buy i see in many charts it does not work like that! it depends on the trend! like now eur/usd is an uptrend and i see the basic idea would be to buy at support area and vice versa when the market is down right ? I am observing the chart of aud/usd i see many times when the upper or lower band is hit it hugging it for a long period of time! Aud/usd from 1st august to 10th august it is constantly with the lower bands i guess that is what we call a trend! and about the bollinger band after hitting the upper/lower part it is really hard to determine which way it is headed towards! will it go more up ? or will it come down for a correction and then go up again! these things need to be observed by me and its really hard but am really giving my full time!

 

[4xpipcounter]

I know. It is a paradox. You want to learn. You want to get in them markets, because there is money to be made. It looks (key word) easy. But, there is so much to learn
Don't forget. Just to be profitable, you will be in the top 10% of everyone that enters this business.

Let me also say that RSI and BB's look simple to use and trade with. They look so simple that many e-books have been sold on the topic. (BTW, never pay for any of that garbage.) They do not take into account price action.
Also, I know you have referred to supports and resistances. I hope you do not feel that oscillators or the BB's are a form of supports and resistances. This is why I referred you to DeMarks, Woodies, Camarilla, Murrays, etc. Learning to draw chart S&R's can also be very helpful.

I didn't see a response to that before. The effort needs to be put into that.
Here's another thing. There not as easy to work with as BB's and RSI appear to be, The only time I have ever seen a viable S or R shown by you was when you showed why you were shorting the EUR/USD.

yes sir i am strongly observing the charts from days but there are so stupid confusions that come randomly into my mind and distracts me! totell you the truth today i am learning about how does S and R work (it was written buy at support, sell at resistance)! buy i see in many charts it does not work like that! it depends on the trend! like now eur/usd is an uptrend and i see the basic idea would be to buy at support area and vice versa when the market is down right ? I am observing the chart of aud/usd i see many times when the upper or lower band is hit it hugging it for a long period of time! Aud/usd from 1st august to 10th august it is constantly with the lower bands i guess that is what we call a trend! and about the bollinger band after hitting the upper/lower part it is really hard to determine which way it is headed towards! will it go more up ? or will it come down for a correction and then go up again! these things need to be observed by me and its really hard but am really giving my full time!

 

[Piratetrader]

I know. It is a paradox. You want to learn. You want to get in them markets, because there is money to be made. It looks (key word) easy. But, there is so much to learn
Don't forget. Just to be profitable, you will be in the top 10% of everyone that enters this business.

Let me also say that RSI and BB's look simple to use and trade with. They look so simple that many e-books have been sold on the topic. (BTW, never pay for any of that garbage.) They do not take into account price action.
Also, I know you have referred to supports and resistances. I hope you do not feel that oscillators or the BB's are a form of supports and resistances. This is why I referred you to DeMarks, Woodies, Camarilla, Murrays, etc. Learning to draw chart S&R's can also be very helpful.

I didn't see a response to that before. The effort needs to be put into that.
Here's another thing. There not as easy to work with as BB's and RSI appear to be, The only time I have ever seen a viable S or R shown by you was when you showed why you were shorting the EUR/USD.

I will be in the top 10% of everyone who enters the market? lol i want 1 good trade everyday!! nothing else! (50 pips)
SIR ONLY VIABLE I HAVE SHOWN IN EUR/USD WHICH ONE? THE 4 HOUR CHART IN WHICH I SAID IT WILL GO TO 1.4145?
SIR IN THAT CHART IT WAS THE EASIEST TO SPOT R & S BECAUSE ALL THE HIGH AND LOWER TOPS WERE R AND LOWER LOWS WERE S. but in the 1 hour chart i have a lot of S n R , like today when the price went to 1.4505 and then came down to 1.4575 so i marked it as R & S again went it went to 1.4514 and came down to 1.4419 i marked that as R and S , I daily mark the highs and lows with as S & R am i doing something wrong? then how should i mark the S and R with daily high's and lows?

 

[4xpipcounter]

I'm getting ready to leave, but I got a homework assignment. Look at the daily chart and the new high and new low with respect to the day before, then compare that to the rest of the candle.

Think that one through, and I'll be back later.

I will be in the top 10% of everyone who enters the market? lol i want 1 good trade everyday!! nothing else! (50 pips)
SIR ONLY VIABLE I HAVE SHOWN IN EUR/USD WHICH ONE? THE 4 HOUR CHART IN WHICH I SAID IT WILL GO TO 1.4145?
SIR IN THAT CHART IT WAS THE EASIEST TO SPOT R & S BECAUSE ALL THE HIGH AND LOWER TOPS WERE R AND LOWER LOWS WERE S. but in the 1 hour chart i have a lot of S n R , like today when the price went to 1.4505 and then came down to 1.4575 so i marked it as R & S again went it went to 1.4514 and came down to 1.4419 i marked that as R and S , I daily mark the highs and lows with as S & R am i doing something wrong? then how should i mark the S and R with daily high's and lows?

 

[Piratetrader]

ok sir i will go through it!!

 

[Piratetrader]

sir in the columbus threat(pg 169) there are more talks about ema and sma which i do not use! THE RSI is over the chart? 0_O - http://www.traderji.com/day-trading/27421-bollingerbands-162.html

 

[AW10]

4xpipcounter, outstanding demonstration of patience and willingness to share your expertise with keen learner like saif. Truely appreciate it. That's why I love going thru your posts. (happened to visit this thread today).

Saif, you shd be thanking your trading stars, that u come across as forex pro like Paul here to answer your early stage questions which lot other traders will just ignore saying that another few dumb questions from newbee.. Appreciate your willingness to learn.
Journey is tough. Just a single tip from me - forget your P&L and counting your daily pips and focus on becoming a best trader. Pips and $ are byproduct and they will follow, as long as you do what the best trader practice, consistently.

All the best and happy trading.

 

[Piratetrader]

well thank you for your comment AW10, yes i am gladly thankfull to MR paul and i really appreicate all help from him!all that i am learning and understanding is due to his patience and willingness to help newbies! hope he keeps doing this wonderfull job!

 

[4xpipcounter]

AW10, thanks for your kind words, but also thanks for the valid points you made about the learning stages to Saif.

I know Saif has referred to "stupid questions". The only dumb or stupid questions you ask are the ones you already know the answer to. The other "stupid" questions are the ones you need answers to, but don't ask.

4xpipcounter, outstanding demonstration of patience and willingness to share your expertise with keen learner like saif. Truely appreciate it. That's why I love going thru your posts. (happened to visit this thread today).

Saif, you shd be thanking your trading stars, that u come across as forex pro like Paul here to answer your early stage questions which lot other traders will just ignore saying that another few dumb questions from newbee.. Appreciate your willingness to learn.
Journey is tough. Just a single tip from me - forget your P&L and counting your daily pips and focus on becoming a best trader. Pips and $ are byproduct and they will follow, as long as you do what the best trader practice, consistently.

All the best and happy trading.

 

[4xpipcounter]

Right, but read from the beginning of the thread and take notes. Everything is in lieu of the Bollinger Bands. There is a context.

Also, let me know what you came up with on the daily chart. I go some travel today, so I won't be available as much.

sir in the columbus threat(pg 169) there are more talks about ema and sma which i do not use! THE RSI is over the chart? 0_O - http://www.traderji.com/day-trading/27421-bollingerbands-162.html